Bat

Bat

The Bat Pattern is a 5-point retracement structure that was discovered by Scott Carney in 2001. It has specific Fibonacci measurements for each point within its structure and it is important to note that D is not a point, but rather a zone in which price is likely to reverse, called the Potential Reversal Zone (PRZ). The B point retracement of the primary XA leg must be less than a 0.618, preferably a 0.50 or 0.382 and the PRZ consists of 3 converging harmonic levels: 1) 0.886 retracement of the primary XA leg, 2) extended AB=CD pattern, usually 1.27 AB=CD and 3) minimum BC projection is 1.618.

The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. A common stop level would be behind the X-point. Conservative traders may look for additional confirmation. Bat Patterns can be bearish and bullish. TradingView has a smart XABCD Pattern drawing tool that allows users to visually identify 5-point reversal structures on a chart.

There is a possible bearish bat for USDCAD. D completion is at 1.29670 which is the 88.6 Fibonacci retracement of leg XA. Upon confirmation, I plan to short the currency pair. Stop loss is just above point X while the take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. If this setup remains valid and is completed, ...

GBPJPY has recently been on an uptrend and then suddenly there was a massive selloff yesterday, May 23. Point D of the bullish bat was completed when the bulls were able to hold price at 145.946. This is very close to the 88.6 Fibonacci retracement of leg XA which is 145.996. I am looking to buy close to this level once there is confirmation of the bullish bias. ...

After the breakout below the lower trend support line
yesterday, price may now reach down toward 142.200 /
142.600 level which is the yet to be closed gap from last
Septembre.
In order for the breakout to be true, I usually wait for a
retracement to the trend line cross over level as highlighted
by the magenta coloured line. Should price get rejected ...

Possibility of a bearish bat forming on Lumber. Hedged more 2x1 long to short ratio until it hits Point C, then will reverse to 2x1 short to long ratio with stop on my short just above the previous all time high Point A.

Monero has completed a bullish BAT at 88.6 which also happens to be weekly S2. In this case I am using the smaller BAT to trade the CD leg of two Gartley patterns (one smaller one larger).
R:R on the smaller Gartley (trading the C D leg) is around 8:1 and for the bigger Gartley (trading the C D Leg) is almost 14:1
Lets see how things play out.

What a drop guys. The drop has created a potential bullish bat pattern with RSI just touching the oversold level.
PRZ is at a good support level.
Only looking at TP1 with R:R of about 1.6, GBP news in about an hour's time.
Trade with caution and good luck.

I like BAT chart right now. I think there is a strong probability that it bounces nicely here in the next few days. Waiting to buy on a confirmation that it uses the trend line as support. If it doesn't I will be watching that next trend line.

USDCHF is still on a uptrend and there is a bullish bat again. The bullish bias is confirmed by a red hammer, lack of a lower low, and a green candlestick closing at 0.95446 which also guided price entry. Stop loss is placed just below point X while take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A.
Trade Setup: ...

BTC has been trending dovvn since a lot of time and I'm not sure it has done his/her good dip. novv testing some kind of lovv term support but vvill eventually fall through it in the next sessions. Anyvvay, as alvvays, time vvill tell!

USDCHF is on an uptrend and there is a bullish bat. The bullish bias is confirmed by a double bottom with a red hammer (right bottom) closing at 0.94398 which also guided price entry. Stop loss is placed just below point X while the take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A.
Trade Setup: Bullish Bat
Price ...

we see Bat pattern on 4H chart. Also Bat D point is on resistance level. In addition we see rsi divergence on 1H chart.
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